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About Debtors' Ombudsman

Office of the Debtors’ Ombudsman

The Office of the Debtors' Ombudsman began operation on 1 August 2010, after legislation establishing the Office was passed by Parliament in July 2010. According to Act no. 100/2010, the Office of the Debtors' Ombudsman is a Government institution operating under the auspices of the Minister of Social Affairs, whose purpose is to protect the interests and rights of debtors, as is specified further in the Act.

The Office’s principal function is to improve the position of individuals experiencing payment difficulties and to make it easier for them to normalise their debt service and debt position.

By law, the roles of the Office of the Debtors' Ombudsman are as follows:

  • To provide individuals in severe financial distress with free assistance in gaining an overview of their finances and seeking solutions.
  • To act as an intermediary in negotiations with creditors.
  • To carry out the debt mitigation process; cf. Act no. 101/2010.
  • To prepare cost-of-living references and update them regularly.
  • To receive queries and comments from debtors concerning flawed lending practices and forward them to the appropriate supervisory authorities.
  • To protect debtors’ interests and provide them with assistance when appropriate.
  • To provide comprehensive advice and education on household finances.
  • To provide financial assistance with expenses relating to bankruptcy proceedings; cf. Act no. 9/2014.
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